Rising Coffee Prices Giving Drinkers a Jolt

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Coffee prices are on the rise due to a decrease supply of coffee beans and rise in demand from developing countries.

The shortage of coffee beans is being blamed on bad weather in coffee growing regions.

During the last year, coffee prices at the commodities level have risen by almost 90 percent. Of course, this has been passed on to consumers. But coffee lovers say that the high prices won't stop them from getting their caffeine fix.

"I like Folgers, so I buy regardless of the price. But the price is a little high," said one coffee drinker.

"I usually wait until the coffee goes on sale," another person said.

"I'm not going to give up coffee. I may drink less," another coffee lover said.

"What we have experienced is really the perfect storm in specialty coffee," Minneapolis- based Dunn Bros. Coffee CEO Chris Eilers told television station KARE Tuesday.

"We have seen coffee prices on the bean side go up two to three dollars by the pound," Eilers said.

Starbucks is the latest coffee chain to announce a price increase. The cost of a bag of its coffee beans will increase by 17 percent.

Last month, the price for a bag of both Folgers and Dunkin Donuts coffee increased by 11 percent.

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